Imperial Oil (TSE:IMO) Hits New 52-Week High After Analyst Upgrade

Imperial Oil Limited (TSE:IMO) (NYSEMKT:IMO) reached a new 52-week high during trading on Tuesday after Desjardins raised their price target on the stock from C$165.00 to C$172.00. Desjardins currently has a hold rating on the stock. Imperial Oil traded as high as C$192.40 and last traded at C$191.17, with a volume of 12,512 shares traded. The stock had previously closed at C$190.83.

A number of other equities research analysts have also recently weighed in on the company. UBS Group lifted their price target on Imperial Oil from C$195.00 to C$205.00 in a report on Monday, September 14th. National Bank Financial boosted their price objective on Imperial Oil from C$207.00 to C$213.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Scotiabank raised Imperial Oil to a “hold” rating in a report on Friday, June 26th. Raymond James Financial raised their target price on Imperial Oil from C$130.00 to C$140.00 and gave the company an “underperform” rating in a research report on Wednesday, September 16th. Finally, TD raised their target price on Imperial Oil from C$150.00 to C$151.00 and gave the company a “sell” rating in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Imperial Oil currently has an average rating of “Reduce” and an average target price of C$150.82.

Imperial Oil Trading Up 0.2%

The business has a fifty day moving average of C$181.65 and a 200-day moving average of C$176.22. The stock has a market capitalization of C$92.14 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62. The company has a debt-to-equity ratio of 17.11, a current ratio of 1.38 and a quick ratio of 0.98.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last issued its quarterly earnings results on Friday, July 31st. The company reported C$4.52 EPS for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. The firm had revenue of C$15.98 billion for the quarter. On average, equities analysts anticipate that Imperial Oil Limited will post 8.62 earnings per share for the current fiscal year.

Imperial Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st were given a dividend of $0.87 per share. The ex-dividend date was Friday, September 4th. This represents a $3.48 annualized dividend and a dividend yield of 1.8%. Imperial Oil’s dividend payout ratio (DPR) is 37.15%.

Imperial Oil Company Profile

Imperial Oil is one of Canada’s largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.